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Deals & People March 6, 2007
Sunwest Pensions to Offer Managed Accounts through MG Advisory Services
MG Advisory Services, a wholly-owned subsidiary of Matrix Settlement&Clearance Services (Matrix), will provide retirement account services to third party administrator Sunwest Pensions’s retirement plan participants.
Reported by Alison Cooke
Through an alliance between the two companies, Sunwest will offer its participants MG Advisory’s 401(k) Individually Managed Account (IMA) product as an option for their 401(k) account. This will allow participants to have a professionally managed investment portfolio within their retirement plan.
Plan sponsors will be able to offer this as an option in addition to their existing mutual fund lineup and participants can opt to use the managed account option.
Matrix affiliate MG Trust Company will continue to perform all cash processing including contributions, distributions and 1099 reporting for retirement plans using the IMA option.